{"title":"Behavioural Economics, Benefit-Cost Analysis, and the WTP versus WTA Choice","authors":"J. Knetsch","doi":"10.1561/101.00000119","DOIUrl":null,"url":null,"abstract":"Many of the findings from behavioural economics research offer useful opportunities to better understand and anticipate people's choices among alternatives and to improve policy design accordingly. Their use has, however, varied among fields — being widely employed in some and mainly ignored in others. Major issues and likely understatements resulting from current practice are illustrated in the recent assessment of the monetary value of damages resulting from the BP Deepwater Horizon oil spill.","PeriodicalId":45355,"journal":{"name":"International Review of Environmental and Resource Economics","volume":null,"pages":null},"PeriodicalIF":1.2000,"publicationDate":"2020-10-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"9","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Environmental and Resource Economics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1561/101.00000119","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 9
Abstract
Many of the findings from behavioural economics research offer useful opportunities to better understand and anticipate people's choices among alternatives and to improve policy design accordingly. Their use has, however, varied among fields — being widely employed in some and mainly ignored in others. Major issues and likely understatements resulting from current practice are illustrated in the recent assessment of the monetary value of damages resulting from the BP Deepwater Horizon oil spill.
期刊介绍：
Environmental and resource economics has become a broad topic making connections with many other subdisciplines in economics as well as the natural and physical sciences. It has also experience a significant growth in research such that the literature is exploding in terms of the number of topics addressed, the number of methodological approaches being applied and the sheer number of articles being written. Coupled with the high degree of specialization that characterizes modern academic research, this proliferation of topics and methodologies makes it impossible for anyone, even those who specialize in the subject, to keep up with developments in the field.
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